this property? 7. Yui Kobayashi is the owner of a freestanding restaurant located in Southern California's Los Altos county, Yui's operation features traditional Japanese cuisine and it has been very successful for the five years she has operated it Last year, Yui undertook a renovation of her property that included adding a new roof, new windows, and repaving her asphalt parking lot. The total renovation costs were $125,000. The county in which Yui operates her business is responsible for the collection of local ad valorem property taxes. In the previous year, the county assessed the building housing her restaurant at $1,500,000 490 Chapter 12 Capital investment Leasing, ond Upon opening her mail this week, Villearned that the county was now notifying her that it was increasing the located as well as the increased property value resulting from her recent renovation. Vul has determined that she war paving did not truly adel value to her property, but rather merely prolonged the life of the property at its current value. For that reason, she feels that the fair value of her property should be $125,000 less than the new amount established by the county tax assessor as well as the amount she would pay if she is successful in her appeal of her property tax assessment, and then ansett Using the form she has created, calculate the amount of tax Yui will owe on her property at the new atened value, the questions that follow Yul Kobayashi Next Year Property Tax Bill Folio: 123456 Los Altos County Notice of Ad Valorem The Next Year Property ID Number: 123456-78-901 125 Sunrise Sureet OWNER OF RECORD Yui Kobayashi 1234 Home Street Hometown, CA Assessed Property Value: $1,800,000 l'ay online at: www.Josaltos.gov NOTICE: Payments must be made in US. funds Ad Valorem Taxes Tax Due at Assessed Value Tax Due at Appeal Value $1,800,000 $1,675,000 Millage Tuxing Authority 0.3509 4.5657 0.9885 10500 0.8122 0.0894 Los Altos County Commissioners Los Altos County Schools Capital Outlay Los Altos Water Basin Assessment County Hospital Sinking Fund Reserve Children's Services Road Assessment County Parks Fire Fund Bond Fund Township Reserve City Reserve General Fund Water and Sewage System Total Millage Total Taxes Due 0.0051 2.5658 0.0565 1.7025 0.0050 2.5659 3.2580 6.85-15 1.2852 this property? 7. Yui Kobayashi is the owner of a freestanding restaurant located in Southern California's Los Altos county, Yui's operation features traditional Japanese cuisine and it has been very successful for the five years she has operated it Last year, Yui undertook a renovation of her property that included adding a new roof, new windows, and repaving her asphalt parking lot. The total renovation costs were $125,000. The county in which Yui operates her business is responsible for the collection of local ad valorem property taxes. In the previous year, the county assessed the building housing her restaurant at $1,500,000 490 Chapter 12 Capital investment Leasing, ond Upon opening her mail this week, Villearned that the county was now notifying her that it was increasing the located as well as the increased property value resulting from her recent renovation. Vul has determined that she war paving did not truly adel value to her property, but rather merely prolonged the life of the property at its current value. For that reason, she feels that the fair value of her property should be $125,000 less than the new amount established by the county tax assessor as well as the amount she would pay if she is successful in her appeal of her property tax assessment, and then ansett Using the form she has created, calculate the amount of tax Yui will owe on her property at the new atened value, the questions that follow Yul Kobayashi Next Year Property Tax Bill Folio: 123456 Los Altos County Notice of Ad Valorem The Next Year Property ID Number: 123456-78-901 125 Sunrise Sureet OWNER OF RECORD Yui Kobayashi 1234 Home Street Hometown, CA Assessed Property Value: $1,800,000 l'ay online at: www.Josaltos.gov NOTICE: Payments must be made in US. funds Ad Valorem Taxes Tax Due at Assessed Value Tax Due at Appeal Value $1,800,000 $1,675,000 Millage Tuxing Authority 0.3509 4.5657 0.9885 10500 0.8122 0.0894 Los Altos County Commissioners Los Altos County Schools Capital Outlay Los Altos Water Basin Assessment County Hospital Sinking Fund Reserve Children's Services Road Assessment County Parks Fire Fund Bond Fund Township Reserve City Reserve General Fund Water and Sewage System Total Millage Total Taxes Due 0.0051 2.5658 0.0565 1.7025 0.0050 2.5659 3.2580 6.85-15 1.2852